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Oil and Natural Gas Corporation (ONGC) on Friday posted second quarter profit for the financial year 2023-24 at Rs 16,553.32 crore, up 142.4 per cent in comparison to Rs 6830.16 crore during the second quarter of FY23, surpassing estimates. It posted revenue from operations at Rs 146,873.73 crore, down 12.9 per cent as against Rs 168,656.12 crore during the same period last year. According to a CNBC TV18 poll, ONGC was expected to record Q2 profit at Rs 11,034 crore and the revenue was estimated at Rs 36,767 crore.
The company board also declared an interim dividend at the rate Rs 5.75 per equity share of face value of Rs 5 each i.e. at 115 per cent for the financial year 2023-24. The total payout on this account will be Rs 7,234 crore.”The 21st November, 2023 has been fixed as the record date for determining eligibility of shareholders for payment of interim dividend. The dividend will be paid to the eligible shareholders on or before 10.12.2023,” the company said in a regulatory filing.
